If the average variable cost of the fifth hat is $50, then the total variable cost of five hats is
A. $10.
B. $250.
C. $1,800.
D. indeterminate from this information.
Answer: B
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All of the following statements are true of the minimum efficient scale except one. Which one?
A) Any increase in the scale of operation will encounter either constant returns to scale or diseconomies of scale. B) All possible economies of scale have been exhausted. C) The short-run average total cost curve's minimum point is equal to the long-run average cost curve's minimum point. D) An increase in the output level will increase profit.
Supplier power tends to be low when
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A minority candidate may not have the same chances as a white candidate for a job simply based on an employer's misconceptions about minorities
a. True b. False Indicate whether the statement is true or false